AMI Research Initiates Coverage of Jade Art Group
17 6월 2008 - 10:00PM
PR Newswire (US)
Long-term Distribution Rights to One of Largest Jade Mines in China
Represent Strong Barriers to Entry KEY LARGO, Fla., June 17
/PRNewswire-FirstCall/ -- AMI Research, a division of Hawk
Associates, announced today that it has initiated research coverage
of Jade Art Group, Inc. (OTC:JADA) (BULLETIN BOARD: JADA) with an
accumulate recommendation and a $7.49 price target. This 30-page
report by AMI analyst, Saurav Chakraborty, can be accessed from the
AMI Research website, http://www.amistockreports.com/ Jade Art
Group is a Chinese company engaged in the wholesaling and
distribution of raw jade, currently used in high-end jewelry and
sculptures with potential future applications in markets ranging
from construction material to furniture. In January 2008, the
company secured the distribution rights to the SheTai jade mine in
Inner Mongolia for a tenure of 50 years. According to a recent
survey by the Inner Mongolia Geological Institution, the mine has
proven and probable reserves of 6.1 million tons, which at recent
prices would value the mine's reserves at approximately $16 billion
USD. Jade Art Group reported first quarter revenue of $10.7
million. Shipments of raw jade during the quarter reached
approximately 3,385 metric tons, with an average sales price
equivalent to approximately $3,150 per metric ton. Net income from
continuing operations for the first quarter was $6.0 million, or
$0.03 per diluted share. To date in 2008, Jade Art Group has
entered into six sales contracts for SheTai jade, representing a
total value of approximately $42 million. We expect the company to
realize approximately $60.5 million in revenue in 2008 with $34.4
million in net income and $0.43 in diluted EPS. Given the barriers
to entry in the jade mining business, the increasing price of jade
due to depletion at other mines and strong consumer demand due to
the special affinity the Chinese have for jade, we believe the
company's long-term prospects are very positive. Pictures, videos,
a virtual tour and a transcription of a recent China Central
Television report on Jade Art Group's mine in Inner Mongolia are
also available at http://www.amistockreports.com/ About AMI
Research AMI Research is a leading provider of issuer-paid research
coverage and a division of Hawk Associates Inc. AMI Research offers
high quality and credible fundamental analysis of promising small
companies that do not have traditional Wall Street analyst
coverage. These detailed reports provide serious investors with an
in-depth understanding of a company and its technology, industry,
strategic position, business model, financial history and future
prospects. AMI Research abides by the Best Practice Guidelines
Governing Analyst and Corporate Issuer Relationships, developed by
the CFA Institute in conjunction with the National Investor
Relations Institute (NIRI). The cost of enrollment in our one-year
continuing research program is $30,000 prepaid for four research
reports. We do not accept payment of our fees in company shares,
and all AMI Research and Hawk Associates personnel are prohibited
from owning or trading in securities of covered companies. The
views expressed in this report accurately reflect the analyst's
personal views about the subject securities or issuer. Neither the
analyst's compensation nor the compensation received by AMI
Research is in any way related to the specific ratings or views
contained in this research report. For more information, visit
http://www.amistockreports.com/ About Hawk Associates Since 1995,
Hawk Associates has been helping microcap and small companies build
valuation, support and credibility on Wall Street through
customized, sustainable investor relations strategies. Hawk
specializes in developing communications strategies that stand out
in a universe of more than 5,000 small and microcap companies on
Wall Street. Hawk has nearly 60 years of collective IR experience
and serves clients in the United States, the U.K., China and
Vietnam. For more information, contact Frank Hawkins or Julie
Marshall at 305-451-1888 or visit http://www.hawkassociates.com/
AMI Research Phone: (305) 451-1888 E-mail:
http://www.amistockreports.com/ DATASOURCE: AMI Research CONTACT:
Frank Hawkins or Julie Marshall, of Hawk Associates, +1-305-
451-1888; or AMI Research, +1-305-451-1888, Web site:
http://www.hawkassociates.com/ http://www.amistockreports.com/
Copyright